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Not only is inventory dropping (698 homes on the Shasta County MLS), homes are selling faster than they where a year ago. If you are considering selling this is a great time. If you are currently a home buyer you better act fast when you see a home you like. Here is a great info graphic from the California Association of Realtors.
The California Association of Realtors put together this great infographic showing the interest rates over the last few decades. With rates currently hovering around 3.5% and prices lower than they have been in the 8 years, its never been a better time to buy.
Home sales continue to show signs of our market improving. September’s average sales price for a home in Redding was $194,802. That is up from September 2011 $176,876. Shasta County had 212 homes sold in September.
|
Statistic
|
Sep-12
|
Sep-11
|
% Chg
|
2012 YTD
|
2011 YTD
|
% Chg
|
|
Absorption Rate
|
3.91
|
6.09
|
-35.80
|
4.13
|
7.02
|
-41.17
|
|
Average List Price
|
$304,973
|
$281,020
|
8.52
|
$241,760
|
$237,780
|
1.67
|
|
Median List Price
|
$215,000
|
$195,000
|
10.26
|
$180,650
|
$179,900
|
0.42
|
|
Average Sale Price
|
$202,828
|
$182,691
|
11.02
|
$180,343
|
$182,002
|
-0.91
|
|
Median Sale Price
|
$171,000
|
$167,500
|
2.09
|
$159,995
|
$155,000
|
3.22
|
|
Average DOM
|
133
|
110
|
20.91
|
119
|
130
|
-8.46
|
|
Median DOM
|
101
|
93
|
8.60
|
88
|
100
|
-12.00
|
|
Sep-12
|
Sep-11
|
% Chg
|
2012 YTD
|
2011 YTD
|
% Chg
|
|
| Absorption Rate |
4.12
|
6.32
|
-34.81
|
4.31
|
7.16
|
-39.80
|
| Average List Price |
$325,087
|
$287,470
|
13.09
|
$249,453
|
$240,423
|
3.76
|
| Median List Price |
$219,900
|
$195,000
|
12.77
|
$180,000
|
$179,000
|
0.56
|
| Average Sale Price |
$200,026
|
$176,876
|
13.09
|
$177,299
|
$179,380
|
-1.16
|
| Median Sale Price |
$165,900
|
$163,000
|
1.78
|
$155,000
|
$150,000
|
3.33
|
| Average DOM |
150
|
110
|
36.36
|
123
|
131
|
-6.11
|
| Median DOM |
101
|
93
|
8.60
|
88
|
101
|
-12.87
|
July’s average sales price for homes in Redding was $198,625. That number rose for the forth consecutive month to $199,166. With Shasta County housing inventory staying low we continue to see multiple offers on listings and offers over the asking price regularly.
From local appraiser Robert Sprenkel “The average sales price/SF continues to tick upwards in all age brackets. While most of the market is active with low inventory, the custom market appears to be soft. There are 43 active listings in Redding with an asking price of $550K+. There is only one pending sale in Redding with a list price over $550K.”
| Statsistic | 12-Aug | 11-Aug | % Chg | 2012 YTD | 2011 YTD | % Chg |
| Absorption Rate | 6.9 | 9.52 | -27.52 | 7.09 | 9.96 | -28.82 |
| Average List Price | $260,090.2 | $257,317.8 | 1.08 | $236,349.1 | $239,204.7 | -1.19 |
| Median List Price | $190,000 | $189,000 | 0.53 | $179,500 | $179,900 | -0.22 |
| Average Sale Price | $184,168.4 | $180,536.7 | 2.01 | $177,755.9 | $181,898.2 | -2.28 |
| Median Sale Price | $165,500 | $158,000 | 4.75 | $158,650 | $152,750 | 3.86 |
| Average DOM | 108 | 124 | -12.9 | 117 | 133 | -12.03 |
| Median DOM | 88 | 97 | -9.28 | 87 | 101 | -13.86 |
| Statistic | 12-Aug | 11-Aug | % Chg | 2012 YTD | 2011 YTD | % Chg |
| Absorption Rate | 5.94 | 7.79 | -23.75 | 6.16 | 8.38 | -26.49 |
| Average List Price | $267,914.7 | $252,446.3 | 6.13 | $240,782.3 | $240,332.6 | 0.19 |
| Median List Price | $202,800 | $196,900 | 3 | $189,000 | $189,900 | -0.47 |
| Average Sale Price | $197,611 | $193,462.7 | 2.14 | $194,068.1 | $194,448.6 | -0.2 |
| Median Sale Price | $175,000 | $173,056 | 1.12 | $169,000 | $166,750 | 1.35 |
| Average DOM | 106 | 123 | -13.82 | 111 | 126 | -11.9 |
| Median DOM | 86 | 99 | -13.13 | 83 | 100 | -17 |
